I don't see that it's any different than any other bankruptcy from corporate's point of view... or mabey I should say not much different. The only difference is the territory that would not be covered if nobody stepped in to cover it. In my view the most likely scenario here is that a receiver would be appointed to manage in continuum until the courts could sort it out... CNH would receive their floor plan back because it's secure, Wells will be left to choose their next managing partner and do a dance while jockeying back and forth for the tub of Vaseline, the employees will lose their pensions if they had any... and the rest will continue on, business as usual except they'll probably knife a bunch of underperforming stores. The lenders will have to decide whether they want to really recoup a little bit of their money now by forcing a sale of used equipment on a falling market... or mabey sitting and waiting for the sun to reappear... What is clear in my mind is that someone WILL step in to run this chain one way or another because there IS a significant opportunity there for someone at a certain price... SHOULD that eventuality ever take place... which I'm not too sure it ever will. CNH, for the most part... I don't think gives a tinkers damn who run the thing as long as somebody has a sign up with their name on it. There's no downside for them in having secure new stock in their name and overvalued used in Wells Fargo's pocket... or the shareholder's pocket. That's really just about the perfect scenario... somebody else take the bath without flooding the market.
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Today's Featured Article - Show Coverage: Journey to Ankeny - by Cindy Ladage. We left Illinois on the first day of July and headed north and west for Ankeny, Iowa. Minus two kids, we traveled light with only the youngest in tow. As long as a pool was at the end of our destination she was easy to please unlike the other two who have a multitude of requirements to travel with mom and dad. Amana Colonies served as a respite where we ate a family style lunch that sustained us with more food than could reasonably fit into our ample physiques. The show at Ankeny
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